16-Year-Old Frank Bought a Video Game Console from John for $150

question 46

Multiple Choice

16-year-old Frank bought a video game console from John for $150. Frank is a minor, while John is a competent adult. A month later, the console started malfunctioning on its own. Frank returned the console to John. If Frank disaffirms his contract with John for buying the console, which of the following will be considered true?

• A) John is not bound by the contract any more as the exchange has been completed.
• B) Frank can reclaim full refund on the amount he paid.
• C) Frank can only ask for full refund once he has reached the age of majority.
• D) Frank is legally obligated to fix the console before returning it to John.

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Definitions:

Higher Classes

Refers to social groups or categories that are distinguished by higher levels of wealth, education, or occupational prestige.

Economic Situations

The state of the economy at a given time, influenced by factors like inflation, unemployment, and GDP growth.

Disempowered Non-reactors

Individuals who lack power or influence and do not actively respond or react to situations or stimuli.

Middle-Class Household

A socioeconomic classification referring to households with an income level, lifestyle, and occupation that place them between the working class and the upper class.